Spring Sales

Spring arrived a month or so ago, along with a bounty of home sales in the Montecito 93108 area, completely confirming my comment from last month’s article; that our often static and yet ever dynamic market can truly fit both descriptions from one month to the next. If the first quarter of 2026 (Jan 1 through March 31) was a sleeper in terms of home sales volume and estate sales in Montecito – which it was for the most part – then April surely kicked in to stir up a storm with a whopping 21 sales in the Multiple Listing Service (MLS) in the 93108, and nine of those (nearly half) were over $10M. 

The amount of real estate that sold in April, in terms of dollars anyway, was well more than the entire first quarter combined (Jan., Feb., and March). This lavish uptick was helped in a big way by the largest sale in recent memory, a multi-acre estate on Sycamore Canyon that closed on April 30 (just in time for this article) at a staggering price of $59,881,000. 

This April statistic of 21 home sales and multiple homes selling over $10M in one month in the 93108 is more like a pandemic-era month of sales in both volume and price paid. Adding in the sales over $20M – not to mention this nearly $60M dollar closing – clearly signifies that all bets are off when considering the perennial question: is our market is slowing down at all? It is not. While the big sales grab headlines, there were other sales on the lower / entry-level end of the market that performed well, particularly a smaller home on a smaller lot outside the estate areas (though in the Montecito Union School District) that closed for $3,250,000; a 3 bedroom and 2 bath treasure advertised as just under 1,500 square feet.

While we had nine sales over $10M, the remaining 12 homes sold in April were all in the $5M and under price range. Notable by their absence were any sales in the $6M to $10M range, where we usually see multiple sales per month. In looking ahead, there are a good number of homes pending in escrow, a few in that $6 to $9M range and (yes) three more in escrow over $10M. 

So, as you consider your home purchase in the area, or as you consider selling your home but are not sure if prices are at a peak to maximize your profit potential, you can certainly see that properties are bringing top dollar for the most part, even if they are not selling at full ask. 

Of note to that point; in April we saw a home sell on Lilac Drive that had been on and off the market for a number of years and that finally found a buyer (one of my lotto dream homes). Yes, it sold for around 15% below asking price but it was still a big, mid $20M number, and represents to me a situation where the seller did not keep lowering their price to find a buyer, they just stuck with the $29M+ price tag until the right buyer came along. Perhaps if the seller had kept lowering the price over time, they might not have found this buyer at this time and might have lowered in stages to a point below the $25M before finding their buyer… one just never knows.

So if you are still shopping for a home in Montecito’s 93108, what follows are four homes ready to go in that ever popular $10M+ range. Since the high end is popping, I thought this week we would focus on the $10M+ range and show the interesting spread of options out there, all of which are on top streets in the Montecito Union School District. If you would like more information on any of these listings or for me to arrange a tour with the listing agents, please feel free to contact me directly. Until next time…

1381 East Valley Road – $11,500,000

This unique, done, avant-garde, custom-built Montecito estate is set down a private drive off a private lane near the Upper Village, giving (if you will) an elevated White Lotus filming location vibe. The estate pairs glamour with privacy across one lush acre. The 3-bedroom, 4.5-bathroom, single-level residence features floor to ceiling steel windows and doors, marble baths, and a seamless indoor-outdoor flow ideal for entertaining. 

The expansive primary wing includes dual baths and dressing rooms with multiple garden patios. A Parisian-inspired guest villa offers 885 sq. ft. with 2 bedrooms and 1.5 bathrooms and soaring 14-foot ceilings. Resort style grounds showcase a spectacular pool and spa, a cabana, fireplaces, fountains, and a sports court. A rare Montecito offering blending location, high design, privacy and lifestyle.

1465 East Mountain Drive – $12,900,000

This luxury retreat rests just west of the San Ysidro Ranch, surrounded by equally or higher priced estates and set on 1.43 acres. The home and property have been impeccably renovated and offer 5 bedrooms, 6.5 bathrooms and explosive ocean views beyond the pool and grounds. Designed for single-level living, the home opens to expansive south-facing terraces, prioritizing flow, privacy and indoor-outdoor living while soaring ceilings and nine-foot French doors flood the interiors with natural light. 

Framed by the Pacific, the living room extends to a covered portico overlooking the pool and spa. A chef’s kitchen anchors the social areas of the home. The primary suite provides a new owner with their own private retreat. Complemented by 4 additional bedrooms and a lower-level multi-use media room with kitchenette, this home is ready for both entertaining and elevated day to day living. Once outside, the property’s gardens, spacious lawn, and statuesque fruit trees create a sense of being embraced by repose. When compared to recent sales in the Golden Quadrangle, this property shows true value in terms of lot size, price per square foot, views, and an approachable grace.

1475 East Mountain Drive – $28,500,000

Epic views stretch across the horizon at this newly refreshed Montecito estate, where scale and effortless elegance align beautifully. Usable grounds and thoughtful design create a home that lives as easily as it presents, with nearly every room of the over 11,000 square foot estate opening to expansive ocean views. The Spanish Colonial-inspired residence has been reimagined with a refined modern sensibility, featuring arched passageways, expansive verandas, and Venetian plaster interiors. 

The home offers 4-bedroom suites on one level, including a luxe primary suite, along with formal and casual living spaces anchored by a sunlit kitchen/great room. A guest apartment, gym, game room, 1.88 acres with pool/spa, tennis court, and gardens complete this private Upper Village, Golden Quadrangle offering.

680 Buena Vista Drive – $34,950,000

La Macarena is available for the next lucky owner after a meticulous restoration. Truly an architectural legacy, reimagined and resting on a private, 1.5+ acres, the compound was originally composed as a Mediterranean village by Mary Craig, c.1929 and was recently restored by Xorin Balbes. The property unfolds as an 8-bedroom, 9.5-bathroom Spanish Colonial Revival estate with commanding ocean and mountain views. 

With over 10,000 square feet of living space, the 6-bedroom main residence, entertainment pavilion with theater, gym, sauna, cold plunge and bar, plus the 2-bedroom pool house/ADU, create a private destination anchored by a pool, spa & fire pit.

Romantic courtyards, terraces and French doors draw one’s eye to the ocean views. The primary suite is an oasis with steam shower, meditation room and private terrace. Layered gardens, lawns, pathways and a pickleball court complete a transformative outdoor rhythm. Shaped by time and intentionally evolved for modern luxury living, La Macarena stands as one of Montecito’s premier heirloom estates.